SoFi Technologies (NASDAQ:SOFI) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

SoFi Technologies (NASDAQ:SOFI) had its price target increased by analysts at Needham & Company LLC from $13.00 to $20.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 25.08% from the stock’s current price.

A number of other analysts have also weighed in on the company. The Goldman Sachs Group increased their target price on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Barclays increased their price target on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Mizuho raised their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, Bank of America reaffirmed an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, SoFi Technologies presently has a consensus rating of “Hold” and an average target price of $12.50.

SoFi Technologies Stock Performance

SOFI stock opened at $15.99 on Tuesday. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The business’s fifty day simple moving average is $15.81 and its two-hundred day simple moving average is $11.25. SoFi Technologies has a twelve month low of $6.01 and a twelve month high of $18.42. The firm has a market cap of $17.35 billion, a price-to-earnings ratio of 159.92, a PEG ratio of 1.19 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. During the same period last year, the business earned $0.04 EPS. Analysts predict that SoFi Technologies will post 0.12 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Eric Schuppenhauer acquired 30,600 shares of SoFi Technologies stock in a transaction dated Monday, December 16th. The stock was purchased at an average cost of $16.34 per share, for a total transaction of $500,004.00. Following the completion of the purchase, the executive vice president now directly owns 46,105 shares in the company, valued at $753,355.70. This trade represents a 197.36 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kelli Keough sold 9,590 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total value of $139,630.40. Following the completion of the transaction, the executive vice president now owns 142,613 shares of the company’s stock, valued at approximately $2,076,445.28. The trade was a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,008,870 shares of company stock worth $416,950,073. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Hanseatic Management Services Inc. purchased a new position in shares of SoFi Technologies in the fourth quarter worth about $1,116,000. Charles Schwab Investment Management Inc. raised its position in SoFi Technologies by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after acquiring an additional 87,097 shares in the last quarter. Zacks Investment Management purchased a new position in SoFi Technologies during the third quarter valued at approximately $3,766,000. Citizens Financial Group Inc. RI raised its position in SoFi Technologies by 41.5% during the third quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock valued at $1,892,000 after acquiring an additional 70,603 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in SoFi Technologies by 214.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after acquiring an additional 2,688,847 shares in the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Company Profile

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.